Disaster Risk Financing in the Caribbean Region - Framework and Assessments : 360° Resilience Background Paper

The Caribbean Disaster Risk Financing (DRF) framework of the World Bank has been collaboratively designed in partnerships with Caribbean Governments and local and international stakeholders. The framework helps consolidate and preserve physical disaster risk reduction measures in countries by limiti...

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Main Authors: Justiniano, Ivelisse, Boyer, Mary, Gunasekera, Rashmin, Humbert, Thibaut
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
Online Access:http://documents.worldbank.org/curated/undefined/597211635276921931/360-Resilience-A-Guide-to-Prepare-the-Caribbean-for-a-New-Generation-of-Shocks-Disaster-Risk-Financing-in-the-Caribbean-Region-Framework-and-Assessments
http://hdl.handle.net/10986/36413
id okr-10986-36413
recordtype oai_dc
spelling okr-10986-364132021-10-30T09:22:36Z Disaster Risk Financing in the Caribbean Region - Framework and Assessments : 360° Resilience Background Paper Justiniano, Ivelisse Boyer, Mary Gunasekera, Rashmin Humbert, Thibaut NATURAL DISASTER RISK HAZARD RISK DISASTER RISK FINANCE FINANCIAL PROTECTION LIQUIDITY NEEDS FINANCIAL INSTRUMENTS PUBLIC CONTINGENT LIABILITY PUBLIC FINANCIAL MANAGEMENT The Caribbean Disaster Risk Financing (DRF) framework of the World Bank has been collaboratively designed in partnerships with Caribbean Governments and local and international stakeholders. The framework helps consolidate and preserve physical disaster risk reduction measures in countries by limiting the residual fiscal impacts, caused by the materialization of public contingent liabilities in the wake of a disaster. Most Caribbean countries show strong volatilities in their budgets in the wake of disasters or during a health crisis such as the current Covid-19 pandemic. Their economies have historically lacked enough diversity to be flexible in adapting to rapid and, in some cases, relatively frequent economic shocks caused by disasters. A comprehensive DRF strategy helps alleviate the financial burden of disaster response and, ultimately, ensure the sustainability of public finances. 2021-10-27T19:28:55Z 2021-10-27T19:28:55Z 2021-10-01 Working Paper http://documents.worldbank.org/curated/undefined/597211635276921931/360-Resilience-A-Guide-to-Prepare-the-Caribbean-for-a-New-Generation-of-Shocks-Disaster-Risk-Financing-in-the-Caribbean-Region-Framework-and-Assessments http://hdl.handle.net/10986/36413 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper Latin America & Caribbean Caribbean
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic NATURAL DISASTER RISK
HAZARD RISK
DISASTER RISK FINANCE
FINANCIAL PROTECTION
LIQUIDITY NEEDS
FINANCIAL INSTRUMENTS
PUBLIC CONTINGENT LIABILITY
PUBLIC FINANCIAL MANAGEMENT
spellingShingle NATURAL DISASTER RISK
HAZARD RISK
DISASTER RISK FINANCE
FINANCIAL PROTECTION
LIQUIDITY NEEDS
FINANCIAL INSTRUMENTS
PUBLIC CONTINGENT LIABILITY
PUBLIC FINANCIAL MANAGEMENT
Justiniano, Ivelisse
Boyer, Mary
Gunasekera, Rashmin
Humbert, Thibaut
Disaster Risk Financing in the Caribbean Region - Framework and Assessments : 360° Resilience Background Paper
geographic_facet Latin America & Caribbean
Caribbean
description The Caribbean Disaster Risk Financing (DRF) framework of the World Bank has been collaboratively designed in partnerships with Caribbean Governments and local and international stakeholders. The framework helps consolidate and preserve physical disaster risk reduction measures in countries by limiting the residual fiscal impacts, caused by the materialization of public contingent liabilities in the wake of a disaster. Most Caribbean countries show strong volatilities in their budgets in the wake of disasters or during a health crisis such as the current Covid-19 pandemic. Their economies have historically lacked enough diversity to be flexible in adapting to rapid and, in some cases, relatively frequent economic shocks caused by disasters. A comprehensive DRF strategy helps alleviate the financial burden of disaster response and, ultimately, ensure the sustainability of public finances.
format Working Paper
author Justiniano, Ivelisse
Boyer, Mary
Gunasekera, Rashmin
Humbert, Thibaut
author_facet Justiniano, Ivelisse
Boyer, Mary
Gunasekera, Rashmin
Humbert, Thibaut
author_sort Justiniano, Ivelisse
title Disaster Risk Financing in the Caribbean Region - Framework and Assessments : 360° Resilience Background Paper
title_short Disaster Risk Financing in the Caribbean Region - Framework and Assessments : 360° Resilience Background Paper
title_full Disaster Risk Financing in the Caribbean Region - Framework and Assessments : 360° Resilience Background Paper
title_fullStr Disaster Risk Financing in the Caribbean Region - Framework and Assessments : 360° Resilience Background Paper
title_full_unstemmed Disaster Risk Financing in the Caribbean Region - Framework and Assessments : 360° Resilience Background Paper
title_sort disaster risk financing in the caribbean region - framework and assessments : 360° resilience background paper
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/undefined/597211635276921931/360-Resilience-A-Guide-to-Prepare-the-Caribbean-for-a-New-Generation-of-Shocks-Disaster-Risk-Financing-in-the-Caribbean-Region-Framework-and-Assessments
http://hdl.handle.net/10986/36413
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